France's Elior expects strong sales growth on pandemic recovery
Nov 24 (Reuters) - French catering company Elior Group announced fresh growth and profit targets for its next fiscal year on Wednesday, after it posted its best quarter since the pandemic began.
Elior, which caters to businesses, schools, prisons, hospitals and care homes, now expects organic growth of at least 18% and an adjusted earnings before interest, taxes and ammortization (EBITA) margin between 2.0% and 2.5% for 2021/22, with capital expenditure of around 2.5% of revenues.
Elior posted revenues at 85% of pre-pandemic levels in the three months ended Sept. 30, compared to around 73% in the previous three quarters this year.
The company also narrowed its net loss for the year. ($1 = 0.8894 euros) (Reporting by Federica Mileo and Diana Mandia in Gdansk; Editing by Rashmi Aich)
